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AMC Entertainment targets unusually high options trading (NYSE:AMC)

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AMC Entertainment Holdings, Inc. (New York Stock Exchange: AMCGet a rating) was the target of a few unusual options trades on Friday. Stock traders bought 703,015 call options on the company. This represents an increase of approximately 80% from the average daily volume of 389,753 call options.

AMC Entertainment Awards Performance

NYSEAMC opened at $22.18 on Friday. AMC Entertainment has a 12-month minimum of $9.70 and a 12-month maximum of $52.79. The company has a market capitalization of $11.46 billion, a PE ratio of -10.77 and a beta of 1.64. The company’s 50-day simple moving average is $14.26 and its 200-day simple moving average is $15.90.

AMC Entertainment (New York Stock Exchange: AMCGet a rating) last released its quarterly results on Thursday, August 4. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.21) by ($0.03). The company posted revenue of $1.17 billion in the quarter, versus $1.18 billion expected by analysts. In the same period a year earlier, the company posted ($0.71) earnings per share. The company’s quarterly revenue increased by 162.3% compared to the same quarter last year. Sell-side analysts expect AMC Entertainment to post -1.13 earnings per share for the current fiscal year.

Wall Street analysts predict growth

AMC has been the subject of several analyst reports. Wedbush reissued an “underperforming” rating and set a price target of $4.00 on AMC Entertainment shares in a report on Tuesday. B. Riley lowered his price target on AMC Entertainment shares from $16.00 to $11.00 and set a “neutral” rating on the stock in a Tuesday, June 21 research note. Goldman Sachs Group cut its price target on AMC Entertainment to $34.00 and set a “neutral” rating on the stock in a Friday, July 29 report. StockNews.com elevated AMC Entertainment to a “sell” rating in a Wednesday, July 20, report. Finally, Citigroup reduced its price target on AMC Entertainment from $6.00 to $5.00 and set a “sell” rating for the company in a Thursday, July 7 research report. Four equity research analysts rated the stock with a sell rating and two gave the company a hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $13.50.

Hedge funds weigh on AMC Entertainment

Several large investors have recently changed their positions in AMC. BlackRock Inc. increased its stake in AMC Entertainment shares by 7.2% during the 4th quarter. BlackRock Inc. now owns 42,892,769 shares of the company worth $1,166,684,000 after acquiring an additional 2,877,100 shares last quarter. Renaissance Technologies LLC increased its equity stake in AMC Entertainment by 86.7% during the fourth quarter. Renaissance Technologies LLC now owns 4,681,833 shares of the company valued at $127,346,000 after purchasing an additional 2,174,300 shares in the last quarter. Invesco Ltd. increased its position in AMC Entertainment shares by 418.4% in the 1st quarter. Invesco Ltd. now owns 2,635,266 shares of the company valued at $64,934,000 after purchasing an additional 2,126,916 shares during the period. Coatue Management LLC bought a new position in AMC Entertainment in Q1 worth approximately $12,801,000. Finally, California Public Employees Retirement System increased its stake in AMC Entertainment by 432.1% during the 4th quarter. California Public Employees Retirement System now owns 619,400 shares of the company worth $16,848,000 after purchasing an additional 503,000 shares during the period. Institutional investors hold 34.20% of the company’s shares.

AMC Entertainment Company Profile

(Get a rating)

AMC Entertainment Holdings, Inc, through its subsidiaries, is engaged in the theatrical exhibition business. The company owns, operates or has interests in theaters in the United States and Europe. As of March 1, 2022, it operated approximately 950 theaters and 10,600 screens. The company was founded in 1920 and is based in Leawood, Kansas.

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